Refinance Scheme for COVID19

Refinance Scheme for COVID19

Refinance Scheme for Hospitals and Medical Centers

As medical centers and hospitals are grappling with the implications of the Covid-19 pandemic and the sheer volume of demand for supplies to treat the infected patients. The State Bank of Pakistan announces an emergency support for medical and healthcare facilities through its Refinancing scheme.

Scope & Eligibility Criteria

Long term finance facility for purchase of new imported and locally manufactured medical equipment to be used for combating COVID-19. All hospitals and medical centers registered with respective provincial/federal agencies/commissions engaged in controlling and eradication of COVID-19 will be eligible under the facility.

SBP’s Refinance Scheme for Payment of Wages & Salaries to the Workers and Employees of Business Concerns

The COVID-19 pandemic has caused a great deal of uncertainty and disruption for the people, businesses and communities in Pakistan and across the world.

In response to the economic challenges faced by businesses who may be entering a period of financial uncertainty, Bank AL Habib Limited is offering additional support through State Bank of Pakistan’s Refinance scheme.

This scheme hopes to decrease layoffs by helping businesses sustain payments of wages and salaries to their workers and employees; consequently maintaining steady employment.

Scope and Eligibility

Available to finance wages and salaries of permanent, contractual, daily wagers as well as outsourced employees of existing and new borrowers of banks and DFIs.

The borrowers availing this facility will provide an undertaking in writing to not lay off their workers/employees at least during three months from the date of first disbursement.

Preference will be given to the businesses that are at a disadvantage and directly impacted by the Corona virus and/or those that are labor intensive.

The scheme will be availed by a borrower only from one PFI. In case a borrower has multiple relationships with banks/DFIs, the borrower will submit its request to the bank that is managing its payroll.

The PFIs will not charge any loan processing fee, credit limit fee or prepayment penalties for loans under this Scheme.